Selling pressure pushes MemeCore price lower in today's trading

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MemeCore slides 10.34% today

Highlights

Short- and medium-term momentum remains negative as M/USD trades below key moving averages, signaling ongoing selling pressure.
Technical indicators show mixed signals, with some overbought conditions and weak trend strength, highlighting limited near-term upside potential.
M/USD is expected to trade sideways between dynamic support at $2.32 and resistance at $3.46 over the next five days.

Anton Kharitonov, expert at Traders Union, sees clear signs of short- and medium-term selling pressure in MemeCore. He points to price trading below the 20- and 50-day moving averages and highlights conflicting signals from momentum and oscillators. The lack of supportive news flow during the decline raises doubts about market conviction. Elevated volatility and the downside gap indicate risk of further drawdown if support at $2.32 fails. "Traders should stay defensive here and avoid chasing temporary intraday rebounds until a clear reversal appears," says Kharitonov.

Viktoras Karapetjanc, expert at Traders Union, believes the bullish structure for MemeCore remains intact. He notes that strong support above the 200-day moving average and most weekly indicators flashing buy present robust upside potential. Karapetjanc highlights that recent losses are likely a healthy correction, offering attractive entry in a market with positive long-term signals. Despite the pullback, the range between $2.32 and $3.46 offers targets for bullish setups. "Buyers should capitalize on this dip as further growth is expected if resistance at $3.39–$3.46 is breached," Karapetjanc asserts.

Mixed momentum and weak trend as price tests support-resistance cluster

M/USD is trading below its 20-day moving average (MA-20) of $3.0876 and also well below the 50-day moving average (MA-50) of $3.3866, but remains comfortably above the 200-day moving average (MA-200) of $2.1189. This setup suggests short- and medium-term pressure from sellers, with long-term support intact. The nearest dynamic support is the Ichimoku Kijun level at $3.1103, while medium-term resistance aligns with the MA-50 near $3.39.

Momentum indicators paint a mixed picture: both the MACD and Average Directional Index (ADX) on the daily chart call for caution, with neutral momentum and weak trend strength. The Relative Strength Index (RSI) sits in neutral-to-bullish territory, but the Commodity Channel Index (CCI) and Stochastic RSI both indicate overbought conditions, hinting at limited upside in the very short term. Bull/Bear Power (BBP) remains positive (0.2878), signaling that buyers dominate intraday momentum, though daily losses and a downside opening gap of approximately $0.021 signal heavy selling pressure. The pair is currently trading near the low of its daily range after falling 10.34% intraday, with volatility at 15.46% highlighting heightened risk. There is a clear divergence between momentum and oscillators, suggesting that intraday weakness is not yet fully supported by the longer-term trend signals.

Earlier, analysts noted that MemeCore was experiencing increased downside risk as short- and medium-term momentum turned bearish, despite some signals of intermittent buyer activity. The current analysis adds a new dimension by highlighting a potential shift toward upside probabilities in the near term, with heightened volatility making the $2.32 support level especially critical for risk management.

Source of Data: M Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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